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THE NORTHERN TRUST COMPANY OF SAUDI ARABIA REGULATORY INFORMATION

 
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Financial Reporting

Audited Financial Statements

Pillar III

Board of Directors Report

Authorisation (License) and commencement of business date

The Company operates in the Kingdom of Saudi Arabia under Commercial Registration No. 1010366439 issued on 22/04/1434H (corresponding to 04/03/2013G) by the Saudi Arabian Ministry of Commerce and Industry.

Licensed Securities Business

Custody, Advisory, Investment Fund Management and Discretionary Portfolio Management

Licensed by the Capital Market Authority – License No. 12163-26 – C.R: 1010366439.

Paid-up Capital

Capital of SAR 52 million.

Products and services

Northern Trust Corporation is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals.

The Northern Trust Company of Saudi Arabia provides global custody, asset management and advisory services to clients in the Kingdom of Saudi Arabia.

Direct Controllers

TNTCoSA’s founding shareholders are wholly owned subsidiaries of the Northern Trust Corporation. The Registered office of the company is located in Riyadh.

Direct Controller Ownership and Structure

Organisational Structure

Organisational Structure

Senior Executives

Michael Slater (2005 – Present)
Senior Vice President – Northern Trust

Michael Slater is chief executive of The Northern Trust Company of Saudi Arabia and director of business development for Corporate and Institutional Services in the Middle East. Michael is based in Riyadh and has worked in the Middle East since 1996.

Michael has twenty four years of industry experience within asset servicing. Michael holds a B.S. degree in Economics and Finance from Lipscomb University, Nashville TN.  Michael also holds a certified financial planning certificate from Florida State University.

Effat Saeed Badeeb (2016 – Present)
Vice President – Northern Trust

Ms. Effat Badeeb is Chief Compliance and MLRO of The Northern Trust Company of Saudi Arabia. Effat is based in Riyadh and has worked in compliance since 2006.

Effat has twelve years of industry experience within Compliance and MLRO in Saudi Arabia. Effat holds a Bachelor’s degree in Sociology from the King Abdulaziz University as well as CME 1 & 2 – Advanced Compliance Certificate – Advanced AML Certificate –International Diploma in Compliance with ICA.

Muhammad Amin (July 2013 – Present)
Vice President, Director of Finance

Mr. Muhammad Amin is a Chartered accountant and qualified from Pricewaterhousecoopers. Muhammad has more than 15 years of experience with in the accounting and financial services industry. Muhammad has worked with retail banks, investment banks and asset management firms. Prior to joining The Northern Trust as Director of Finance in July 2013 Muhammad worked for the investment banking arm of Saudi Investment Bank.

Main office address and contacts information

Nakheel Tower, Floor No. 11, King Fahad Road, PO Box 10175, Riyadh 11433, Saudi Arabia.
Telephone: +9 661-1418-8694.

Michael Slater, Senior Vice President
Telephone: +9 665-0694-6567
Email: ms163@ntrs.com.

Client Complaints

Effat Badeeb, Vice President
Telephone: +9 661-1225-5823
Email: esb5@ntrs.com.

Board Members

 
Dr. Fawaz Al-Alamy

Dr. Fawaz Al-Alamy

Chairman of The Northern Trust Co. of Saudi Arabia (2014 – Present)
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Dr. Fawaz Al-Alamy

Dr. Fawaz Al-Alamy

Chairman of The Northern Trust Co. of Saudi Arabia (2014 – Present)
 

Dr. Fawaz Al-Alamy has a breadth of experience and today is founder and director of a consultancy firm in Riyadh.  Dr. Fawaz is an adviser to Government Agencies and the Private Sector, a member of the International Trade Experts Team, WTO, Geneva and a visiting professor, Trade Law, London City University, UK.

Dr. Fawaz earned his B.Sc, M.Sc and Ph.D in Energy Physics in the United Kingdom.  He further earned his Business Diplomat from Stanford University in 1984.

Michael Slater

Michael Slater

CEO - TNTCoSA (2013 – Present)
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Michael Slater

Michael Slater

CEO - TNTCoSA (2013 – Present)
 
Michael Slater is chief executive of The Northern Trust Company of Saudi Arabia and director of business development for Corporate and Institutional Services in the Middle East. Michael is based in Riyadh and has worked in the Middle East since 1996.

Michael has twenty four years of industry experience within asset servicing. Michael holds a B.S. degree in Economics and Finance from Lipscomb University, Nashville TN.  Michael also holds a certified financial planning certificate from Florida State University.
Mazen Ahmed Al-Jubeir

Mazen Ahmed Al-Jubeir

Board Member (2014 – Present)
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Mazen Ahmed Al-Jubeir

Mazen Ahmed Al-Jubeir

Board Member (2014 – Present)
 

Mazen Al-Jubeir is a private investor based in Riyadh, Saudi Arabia, focused on investing in and actively supporting the development of mid-sized growth companies in Saudi Arabia and the United Arab Emirates. His portfolio companies span a range of industries, including information technology, retail, specialty contracting, real estate development, education, and wholesale distribution.

Mazen earned his M.B.A. with highest distinction from Harvard Business School, where he was designated a George F. Baker Scholar. He earned his A.B. with honors in economics from Harvard College, where he received the John Harvard and Harvard College Scholarships for academic distinction.

David C. Wicks

David C. Wicks

Board Member (2013 – Present)
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David C. Wicks

David C. Wicks

Board Member (2013 – Present)
 
David Wicks is based in London and has regional responsibility for Enterprise Operations in Europe, Middle East and Afric.

David is a member of the European Management Committee; Executive Management team for Enterprise Operations and sits on the Bank’s Operating Group. David holds two registrations with the UK Regulator (FCA) – CF29 (Significant Management Function) and CF10a (Client Asset Operational Oversight).
Belinda Aspinall

Belinda Aspinall

Regional Head of Global Family & Private Investment Office Group, EMEA
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Belinda Aspinall

Belinda Aspinall

Regional Head of Global Family & Private Investment Office Group, EMEA
 

Belinda is the Regional Head of the Global Family and Private Investment Offices Group in Europe, the Middle East and Africa, and is based in London.

Prior to joining the GFO group, Belinda was CEO of Northern Trust Channel Islands, where she was responsible for the Banking, Fund Administration and Fiduciary business.

From 2012, Belinda was based in Stockholm, where she was responsible for all asset servicing and asset management business activity across Denmark, Finland, Norway and Sweden.

Belinda joined Northern Trust in 2005 as a senior relationship Manager responsible for a range of UK, Irish and Guernsey domiciled fund managers. In 2007 she assumed the role as head of a team of global fund services relationship managers in the UK which services global asset managers, insurance funds and in-house managed pension scheme clients.

Belinda has over 26 years of industry experience in a wide range of operational and client-facing roles. She began her career with JPMorgan Chase, Luxembourg before moving to London as a senior relationship manager in 2000.

James Wright

James Wright

Senior Vice President - Corporate & Institutional Services - London
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James Wright

James Wright

Senior Vice President - Corporate & Institutional Services - London
 

James Wright is Senior Vice President and Head of Northern Trust's Institutional Investors Group in the UK, Middle East and Africa. James is a member of the Executive Management Committee, EMEA and is due to join NTGS Board in the UK.

Prior to joining Northern Trust in 2016, James spent 29 years with JPMorgan where he held various management roles in the Investor Services Division of the Bank. For the last four years, James was responsible for major global asset management relationships with highly complex service models. Prior to this, he ran the Investment Management Outsourcing & International Funds Services businesses between 2006 and 2012. Over the course of his 30 year career James has also worked abroad and has a proven track record of running large, multidisciplinary teams.

James is an associate member of the Institute of Chartered Secretaries and Administrators (ICSA) in the UK.